{"id":80804,"date":"2019-06-25T02:51:12","date_gmt":"2019-06-25T00:51:12","guid":{"rendered":"http:\/\/beta.next-finance.net\/news\/natixis-supports-the-measures-announced-by-h2o-asset-management-and-confirms-the-principles-of-its-multiaffiliates-model\/"},"modified":"2019-06-25T02:51:12","modified_gmt":"2019-06-25T00:51:12","slug":"natixis-supports-the-measures-announced-by-h2o-asset-management-and-confirms-the-principles-of-its-multiaffiliates-model","status":"publish","type":"post","link":"http:\/\/beta.next-finance.net\/en\/news\/natixis-supports-the-measures-announced-by-h2o-asset-management-and-confirms-the-principles-of-its-multiaffiliates-model\/","title":{"rendered":"Natixis supports the measures announced by H2O Asset Management and confirms the principles of its multiaffiliates model"},"content":{"rendered":"

1. Natixis supports the measures announced by H2O Asset Management relating to the
\nfollowing topics:<\/strong><\/p>\n

Intrinsic liquidity of securities<\/strong><\/p>\n

Regarding the intrinsic liquidity of securities that have been considered as illiquid, H2O AM teams have
\ncontinued to adopt the required measures in order to fully ensure their valuation in regards of their
\ncondition of liquidity.<\/p>\n

The relevant assets are private debt securities relating to a wide variety of companies, none of which
\nare currently in a default situation. However, considering the current environment, the H2O AM teams
\nhave decided to record these securities at their transactional value in case of an immediate total sale
\nrather than recording them at their standard market value, it being specified that their transactional value
\nhas been determined with valuations obtained this Sunday from international banks which are
\nindependent from Natixis. Such securities represent a total exposure for H2O funds of less than 2% of
\nthe outstanding amounts under these funds (source H2O AM). This will enable remaining clients and
\nnew investors to retrieve the long-term value of their securities.<\/p>\n

The liquidity of the securities is ensured and will allow to face potential additional withdrawals, if some
\nclients decide to partially sell their funds due to a concern about the media coverage associated with
\nthese securities. In addition, the long-term performance drivers of H2O funds, which have been proven
\nover numerous years to the benefit of our clients, remain unaffected as they are not related to this type
\nof investment (see detailed press release of H2O AM dated 20 June 2019).<\/p>\n

Removal of entrance fees<\/strong><\/p>\n

H2O AM has announced the removal until further notice of all the entrance fees that had been
\nimplemented several months ago in all their funds.<\/p>\n

Additionally, H2O AM has announced the implementation, in 2017, of swing pricing rules with a view to
\nprotecting the security holders remaining in the funds from the payment of fees incurred by investor
\nexits. Such fees will therefore be borne by those investors requesting the buyback of their securities.<\/p>\n

2. Natixis confirms the principles of its multi-affiliates model for asset management<\/strong><\/p>\n

Natixis\u2019 asset management model relies on 25 management companies, all of which are independent
\nfrom each other, autonomous in their investment policy and rely on talented investment managers.
\nNatixis Investment Managers provides a global distribution platform for the benefit of all its affiliates and,
\nin particular, monitors the control and compliance functions.<\/p>\n

In the context of restoring confidence in H2O Asset Management, Natixis has also decided to bring
\nforward the periodic audit performed on this affiliate, by implementing it as of 21 June 2019. By way of
\nreminder, the General Inspection of the bank performs an audit of all the affiliates of Natixis Investment
\nManagers on a regular basis.<\/p>\n

As of 31 March 2019, the assets under management by our 25 affiliates are equal to 855 billion euros.
\nThe differences in the management approach of each of these affiliates enable to offer a wide range of
\nproducts in order to satisfy a customer base which is diverse in terms of geography and risk appetite.<\/p>\n

As of 31 March 2019, H2O Asset Management has approximately 31 billion euros of assets under
\nmanagement for a wide customer base. Natixis has 20 million euros of seed money from Atlantera funds
\nand a commitment of 25 million euros from a fund which is in the process of being constituted. H2O
\nAsset Management represents approximately 3.7% of the assets managed by Natixis Investment
\nManagers and its contribution to the net group income of Natixis reached 5% in 2017, 11% in 2018 and
\n6% in the first quarter of 2019 (excluding IFRIC 21 impact). It is reminded that the contribution for 2018
\nincluded approximately 420 million euros of performance fees, corresponding to 13% of the 2018 asset
\nmanagement revenues, versus a long-term average of approximately 7% which is used as a basis for
\nNatixis New Dimension targets.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following the information released on 20th June 2019 by Natixis and H2O Asset Management and the
\nstatements of H2O Asset Management made earlier today, Natixis today provides the following
\nadditional information.<\/p>\n","protected":false},"author":20,"featured_media":80802,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1655,1659,1651,2094,2007],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/80804"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=80804"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/80804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/80802"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=80804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=80804"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=80804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}